Streetbeat News

Regulatory

BTCUSD

Canadian law enforcement agencies have adopted Chainalysis Reactor software to track cryptocurrency transactions in their efforts to combat cybercrimes. The software enables the police to monitor blockchain activities, identify potential culprits, and track the movement of funds. The collaboration between Chainalysis and the Calgary Police Service was initiated in April 2023. The adoption of this software comes as Canada sees a downward trend in cryptocurrency ownership, with only 10.1% of Canadians owning Bitcoin by the end of 2022.

Portfolio Pulse from Murtuza Merchant

August 09, 2023 | 8:40 pm

MRTX

Mirati Therapeutics, Inc. (NASDAQ:MRTX) announced that Cancer Discovery published preclinical and initial clinical data from a Phase 1/2 clinical trial of MRTX1719, a PRMT5 / MTA-cooperative inhibitor evaluated in MTAP deleted cancers. The results demonstrate that MRTX1719 may represent a promising targeted therapy for the ~10% of cancer patients with this biomarker. In preclinical studies, MRTX1719 showed marked anti-tumor activity across various solid tumor models. The drug was well-tolerated with no dose limiting toxicities observed.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 8:37 pm

GRTX

Galera Therapeutics, Inc. (NASDAQ:GRTX) has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for avasopasem manganese, a treatment for radiotherapy-induced severe oral mucositis. The FDA stated that additional clinical trial results will be required for resubmission. Galera plans to request a Type A meeting with the FDA to discuss the decision and next steps. The company also plans to reduce its workforce by approximately 70% to extend its cash runway.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 8:35 pm

GRTX

Shares of Galera Therapeutics have been halted due to pending news.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 8:30 pm

ETHUSD

PYPL

The market for stablecoins is projected to grow from $125 billion to $2.8 trillion in the next five years, according to a Bernstein report. The report suggests that as these digital currencies integrate with mainstream consumer platforms, they will experience significant growth. PayPal Holdings Inc (NASDAQ:PYPL) recently announced its foray into the cryptocurrency realm with the introduction of its own stablecoin, PayPal USD (CRYPTO: PYUSD). The report also highlights that stablecoins will leverage an ultra-fast financial settlement infrastructure on public blockchain networks like Ethereum (CRYPTO: ETH).

Portfolio Pulse from Murtuza Merchant

August 09, 2023 | 7:06 pm

ARK

FCPI

PFIX

VIXY

VUG

The Bureau of Labor Statistics is set to release the July Consumer Price Index (CPI) data on Thursday, which could significantly impact market expectations for future Fed rate hikes. Economists predict the annual inflation rate will rise from 3% to 3.3% in July. Five ETFs that could experience significant fluctuations based on this data are ProShares Trust VIX Short-Term Futures ETF (VIXY), Vanguard Growth ETF (VUG), ARK Innovation ETF (ARK), Fidelity Stocks for Inflation ETF (FCPI), and Simplify Interest Rate Hedge ETF (PFIX).

Portfolio Pulse from Piero Cingari

August 09, 2023 | 6:33 pm

ETHUSD

On Tuesday, 5,084.14 Ether (ETH) worth $9,393,055 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction, permanently removing it from circulation. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -5.33%.

Portfolio Pulse from Benzinga Insights

August 09, 2023 | 6:00 pm

NSC

The U.S. Transportation Department has conducted a review of Norfolk Southern's safety culture following a derailment on February 3. The assessment has yielded mixed results.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 5:48 pm

MEG

T

VZ

Montrose Environmental Group's CEO discussed the issue of lead cables on CNBC, highlighting the problems it poses for AT&T and Verizon. The CEO did not provide specific solutions but emphasized the need for addressing this issue.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 5:26 pm

AMZN

Amazon has removed five books from its platform after author Jane Friedman claimed they were falsely listed under her name. The books, suspected to be written by AI, were also listed on Amazon-owned Goodreads.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 5:09 pm